72 convertible on BAT

[Sheriff41]

I saw this on BAT this morning. https://bringatrailer.com/listing/1972-ford-mustang-convertible-2/

 

[Bill73Ragtop]

While it appears to fairly acceptable on the topside, the underside gives me a worrisome feeling of caution. This one would require a close look underneath.
Whatever thick goop was sprayed on could be hiding some serious floor-pan issues. I believe there is some visible rusty chunking in some pics.
The nice engine/ 4-spd combo would be a fun driver. Shame about those speaker holes in the rear quarters, but it was what was done so very often back in the day.

 

[cjstaci]

They mentioned rust repair but I think the work is suspect. You can see where the quarter panels meet the rocker, the seam is covered, likely bondo. I would be worried about what’s hiding underneath all the paint and undercoating.